ASEAN Economic Community (AEC), This Is What You Need To Know
The world that is changing from day to day is responded to by countries in Southeast Asia who are members of ASEAN by strengthening relations between countries. Relationships that are formed are usually manifested in the form of cooperation in several fields. One area of focus is the economic field. Currently, several ASEAN countries have shown significant developments, even including their position that is taken into account in the international arena
Call it Indonesia, Thailand, Vietnam, Malaysia, and Singapore. These countries are now not just consumers, but also become producers for other countries. This is a positive value, of course. The existence of the European Union and the North American Free Trade Agreement encourage ASEAN countries to initiate cooperation in the wider trade sector. The ASEAN Economic Community (AEC) was conceived to form a single market and create competitive conditions between countries for the improvement of member countries. What is MEA, understanding, characteristics, and the ins and outs? Here is the review.
Globalization is inevitable at this time. Advances in information and communication technology, especially the increasingly widespread use of the internet, have a real impact on opening up new spaces and opportunities in international trade transactions.
Background and History of the Birth of the MEA
The history of the MEA begins with a joint agreement at the Summit which was held in Kuala Lumpur, Malaysia, which produced a shared vision of Southeast Asian countries (ASEAN Vision 2020). The goal is to make the Southeast Asian region a prosperous region with equitable economic development and development in each of its member countries.
October 2003 on the summit in Bali, Indonesia produced similar results to the 1997 summit. At the Bali Summit, the leaders of the ASEAN countries expressed the importance of integrating the ASEAN Economic Community (AEC) as a major objective in the integration of economic behavior in the regional will be implemented in 2020.
The in Kuala Lumpur, Malaysia summit in 2006, gave a new consensus. The contents stated declared that the year of the entry into force of the MEA was advanced. The Cebu Declaration, Declared that in 2020 became 2015 The consensus gave birth. With the signing of the Cebu, the consensus decision from year to year becomes a concrete step to make ASEAN a free trade area that includes all components of economic activity. Starting from skilled labor, investors, capitals until the services and Products,
